Why the IHSG Surged More Than 1%
The Indonesia Composite Index (IHSG) opened stronger in trading on Thursday (2/7/2026), continuing the gains recorded in the previous trading session.
As of 09:16 WIB, the IHSG had strengthened by 1.22%, or an increase of 69 points to 5,764. The highest position of the IHSG during this morning’s trading reached the 5,773.48 level.
Transaction value was recorded at approximately Rp 1.68 trillion, with a trading volume of 2.78 billion shares traded across 200,000 transactions. A total of 356 stocks strengthened, 162 stocks weakened, while 165 stocks remained stagnant.
Quoting Refinitiv data, almost all trading sectors strengthened, with only the healthcare sector experiencing a slight correction today. The fastest-rising sectors included basic materials (+2.57%), utilities (+1.85%), financials (+1.44%), and property (+1.36%).
Blue-chip stocks and those affiliated with business conglomerates also strengthened significantly today.
Shares of Indonesia’s three giant banks were recorded as the main pillars of the IHSG’s performance today. Bank Central Asia (BBCA) contributed an increase of 17.69 index points, Bank Mandiri (BMRI) 9.82 index points, Bank Rakyat Indonesia (BBRI) 4.39 index points, and Bank Negara Indonesia (BBNI) 2.64 index points.
More broadly, all major Indonesian banks, including KBMI III, strengthened in unison, led by the rise in BBCA and BMRI share prices.
Meanwhile, conglomerate issuers also contributed to the IHSG’s performance, with the largest contributions coming from AMMN, BRMS, BREN, and MORA. It was noted that all shares in Prajogo Pangestu’s Barito Group strengthened today.
Gold mining issuers also recorded a collective rise today, with BRMS and ANTM acting as supports for the index performance.
Entering the second day of the second semester of 2026, the Indonesian financial market faces several sentiments, ranging from economic data to the speech by Fed Chair Kevin Warsh.
A trade balance deficit, a collapse in Manufacturing PMI, rising inflation, and the Fed’s continued hawkish stance could exert pressure on both the Rupiah and the IHSG today.
Meanwhile, Asia-Pacific markets moved lower at the opening of trading on Thursday (3/7/2026), following the decline on Wall Street as investors engaged in profit-taking on technology stocks, particularly the semiconductor sector.
According to CNBC, South Korea’s Kospi index led the regional decline, plunging 5.36% at the market opening. This sharp decline prompted the Korea Exchange (KRX) to temporarily halt trading for five minutes to curb market volatility, while the small-cap Kosdaq index fell by 3.55%.
In Japan, the Nikkei 225 index weakened by 0.70%, while the Topix managed a slight increase of 0.13%. Meanwhile, Australia’s benchmark index, the S&P/ASX 200, corrected by 0.59% in early trading.
Negative sentiment in Asia followed the movement of US markets, which closed lower on Wednesday local time. The Dow Jones index briefly surged 423.46 points and touched an intraday record high before erasing all gains to close nearly flat.
Meanwhile, the S&P 500 index fell 0.2% and the Nasdaq Composite corrected by 0.7%. This weakness occurred as investors reduced exposure to chip manufacturer stocks, which had previously been the engine of market growth.